Let's hope ETHEREUM DOES NOT do THIS 😨

Ethereum is looking bullish after a strong bounce and a successful retest of the support zone at 2800.

According to all Fibonacci logic, we SHOULD be hitting the 1.618 zone SOON. But we're not out of the woods just yet. There's a risk of a very bearish pattern forming IF we cannot close the daily ABOVE our previous resistance zone. This would form a nasty M-Pattern that could takes us back to 2800 and even lower.

Technical indicators are extremely bullish right now, but this does not guarantee that sellers aren't waiting for us around the corner at 4000.

Naturally, we can expect ETH to keep on following BTC closely over the next week. If Bitcoin makes another leg up, Ethereum will soon follow a day or two later.

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註釋

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